Sigma Alimentos acquires majority stake in cheese and cream producer Los Altos Foods
The multi-national operates in 18 countries in the North and South America and Europe and produces meat and dairy products including yogurts and cheese. Brands owned by Sigma include FUD, Chen and Camelia.
Los Altos Foods operates one plant near Los Angeles, US, and has a 24-year experience in producing Mexican cheese products for the North American market and generates $100m in revenue per year. Its Los Altos brand of cheeses includes Queso Fresco, an unripened fresh cheese made with pasteurized cow's milk; Queso Cotija firm cheese, and Queso Oaxaca semi-soft cheese. Existing Los Altos employees will join Sigma as part of the plans.
Rodrigo Fernandez, Sigma's CEO, commented: “This transaction is aligned with Sigma's strategy and will allow us to continue growing the Core business by strengthening our position in a rapidly growing market that is gaining space in mainstream consumption. We are excited about the prospect of welcoming Los Altos, a great Hispanic cheese brand, to our portfolio. I'm confident that the sum of Los Altos and Sigma will allow us to better satisfy the needs of our customers and consumers. This transaction also enhances our existing network with production capacity on the West Coast.”